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High Speed Rail 6-28-22 1 2

General Economic Growth

HSR creates more demand in the economy

Josef, Lifelong Rail Enthusiast and Owner of Worldwide Rails,

Whenever a city constructs and starts using high-speed trains, you should expect its economy to go through the roofs. For starters, there’s increased revenue from the train ticket sales that goes up with the growing demand. Secondly, the demand for housing goes up due to the availability of a reliable mode of transportation, which brings in more money to the local government.
Additionally, businesses open up in local centers, such as restaurants and coffee shops, which help to stimulate the local economy and hire more people. As the standard of living goes up, the income level goes up with it, helping to improve people’s lives.

HSR increases employment and property values

Sakdirat Kaewunruen et al 2019 IOP Conf. Ser.: Mater. Sci. Eng. 471 102006, Urbanisation Through the Benefits of High-Speed Rail System,

High-speed rail (HSR) acts as a prominent role in society, particularly in urban areas. It implied on socio-economic dynamics and economic growth due to the connectivity. This study conducts the successful case studies of HSR service to analysis on the accessibility of a region and, its effects on urbanisation. Based on the positive impacts of HSR, the land pricing and population dynamic are concerned with primary factors. This research aims to examine the significance of HSR impacts and its roles in reforming urban areas. Therefore, the study brings out a case study of HSR in China (Shanghai and Minhang district) to analysis via the analysis of variance (ANOVA) methods to find a correlation of HSR services with population dynamics and property prices. The Durblin-Watson statistic and Remedial measurement method are also applied to eliminate the disturbance of auto-correlation. As a result, the research found that HSR significantly increased an employment rate and it also leads to enhancing property prices especially within 5 km radius from HSR stations.

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